With regard to Maths, if the federal government thinks it would be better to 1) reduce the expected standards by making something like Essential Maths a year 11-12 program, 2) strip a chunk of 4U content, thereby reducing the challenge for students of higher potential while also 3) leaving a massive gap between the expected standards for Methods and Specialist students ... well, I think that's probably a sign they need to get their heads checked. One might argue that they've mitigated the damage done by removing 4U content by replacing it with new stuff like matrices and stats, but that contributes to problem #3: Methods and Specialist are too far apart.
The reason why people are pointing at Victoria is because the subject names and mechanics of the courses look like the Victorian system. Plus the CEO of ACARA is out of the Victorian education system (there are two people each from VIC and NSW and one from WA on the executive but the ones from Victoria are clearly the senior pair).
Also, Maths has been working pretty fine in NSW for a while now and what problems it does have will not be fixed by dumbing down the curriculum until everyone gets a prize.
Some valid points about maths though:
1) It isn't an expected standard though, really. Its a very very low program clearly. Currently at VCE as far as I was aware a lot of schools do not have anything like it, the lowest my school ever had was Further. Just further, methods, spec, (and then theres UMEP but thats sorta separate). The idea of this program is to cater for people that really only require the most basic of the basic of maths - it is for those who just need something very basic for whatever they are continuing with in the future. Ideally the system should be able to suit everyone, even those who, I think its fair to say, are not up to scratch with maths.
2) Admittedly yeah, unfortunate that stuff does get stripped, however for those people - there is still UMEP...
3) Actually, by scaling it is not methods and spec that are apparently too far apart, but rather Further & Methods. While in 09 further went like down 1, methods CAS went up about 7, and spec went up 10.